What is the hidden agenda of "Infosys-Baba"?
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| Vornado Hinjewadi Township Pvt. Ltd. in Phase 3 |
Recent events in Rajiv Gandhi Infotech Park at Hinjewadi prove that not only one of the biggest real estate companies in Asia, Republic of India, but the small real estate companies in Pune are also in danger.
Like Jantar Mantar, Rajghat & Ramlila Maidan in Delhi, on Friday, young Indian citizens, Information Technology Professionals in Hinjewadi stood against the government.
Of course, intelligent IT professionals didn't say that they are against Maharashtra Government. They only said that they are just trying to attract the attention of all stake holders - including the administration, law-and-order machinery and local residents!
If you look at the figures published by Hinjewadi Industries Association (HIA) - 2,000 acre land, 70,000 employees and $ 4 Billion Export - and their demands - better infrastructure, better traffic management, enhanced power supply and security - you will realize that HIA is trying to attract attention of Mr. Narendra Modi, Chief Minister of Gujarat. Who recently won Maruti Suzuki India Ltd.!
If you look at the timing and the modus operandi, you will realize that - like Anna & Ramdev Baba - Mr Mritunjay Singh, Head, Development Centre, Pune, for Infosys Technologies and President, HIA, may be just one more face of RSS & VHP.
All this, "Hinjewadi First" and all, must be pre-planned! Hinjewadi Industries Association (HIA) just trying to find an excuse to say "Tata!" and migrate to Gujarat. That's why - like Anna & Ramdev Baba dictate terms to the Central Government of India, in Hinjewadi we have "Infosys Baba" - who is doing same to Maharashtra Government.
Just imagine what will happen to Pune real estate market if Infosys, Wipro, TCS, IBM, Tech Mahindra and 33 other IT companies in Rajiv Gandhi Infotech Park in Hinjewadi go to Gujarat?
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Respected Sir,
ReplyDeleteThis article of yours was a very different one from one. Also, it was a very interesting read. However, I could not understand the motive of the article.
Was the motive of the article was
1) Sarcasm --- Poking fun at Congress where they see each and every dharna for a better life as a RSS conspiracy?
2) Genuine concern -- If IT DID leave Pune, what will happen to the real estate market of India.
I would really appreciate a very short (1) or (2) reply from you. If will help dispel the confusion from my mind and other reader's mind as well.
Yours Truly,
Rohit Nigam
“The truth is rarely pure and never simple.”
ReplyDeleteOscar Wilde
Respected Sir,
ReplyDeleteThanks for your reply. Oscar Wilde said a very interesting thing. However, our Father of the Nation also said something, which is quite in contrast to this. He said that the Truth is a very simple thing, but to understand is a complicate thing.
I again request you to help everyone understand this simple truth. There must be several reasons that you are not mentioning everything in open, and if these reasons scare you, then it is perfectly alright to discard my request and write complicated, confusing and ambiguous articles.
Sir, I am a simple man, and most of my fellow citizens are very simple as well.
Yours Truly,
Rohit Nigam
I don't agree to any of the above.
ReplyDeleteAnd even if all that is true, how does it raise doubts on good intentions behind it.
They are not asking for some special favors, they are asking work for what we pay our taxes.
Any of the above arguments do not interest me, as i see all this towards a better future and a working, answerable governance, not a powerful and idle sitting government
Respected Sir,
ReplyDeleteYou lack the courage to carry on after writing such articles. If you have the courage then back your articles, otherwise we always find your property related articles very informative. Keep writing those.
Yours Truly,
Rohit Nigam
Dear Rohit,
ReplyDeleteYes, you are a simple man, and most of your fellow citizens are very simple as well.
But, you have understood all!
Because, you are a smart enough to read between the lines!
Dear Rohit,
ReplyDeleteThanks for the critical appreciation of my blog!
Besides, writing informative blogs on Pune real estate, as you say, i can write - 1) Sarcastic and 2) "Concerned" blogs too.
I would like to add one more point. I, often, write tantalizing blogs! For example:
1) Zephyr at Bavdhan Budruk Pune - because moaning, groaning and panting is your birthright!
2) Oval Nest Warje, Kothrud Annexe - All 2 BHK Flats & Day and Night Cricket Ground facing 3 BHK Flats Booked!!
Why? Because, we all are adults! Aren't we, Rohit?
Dear Ravi,
ReplyDeleteGood Pick,
Also give your attention to following details
1- Similiar exercise of Public notfications was done by Infosys, & Wipro few years ago in Banaglore,Still they have significant presence there
2- Infosys Phase II campus has total area of 120 Acres(Which was purchased by Infosys at very very cheaper rates, as good as free)
No body would like to loose it (Mr. KV Kamat also)
3- HIA has already made it clear, Maharashtra Govt. is not as bad as....
They are giving attention to requirements of Hinjewadi
Underlying reasons could be anything
Megapolis - Avinash bhosale & Govt. it self
Blueridge - Vilasrao De....???
Kolte Patil - You don't know yet
Nanded City is not so far as well,
Also, your good friend Mr. Fahim Khan will be much happy with hearing of
Final Stages of Aprroval for Balewadi- Hinjewadi bridge, now it's one more dream :)
Dear Rohit, thanks for the good news!
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteThis article is absurd.
ReplyDeleteOne can not be considered from RSS/BJP (and against Congress) just because he raised a voice for an improvement.
Hinjewadi will not become desert because Narendra Modi calls the IT companies in Gujarat.
Well nice to see this article as part of this blog since people who invest in real estate in Pune are least bothered with the governance and infrastructure around the houses before investing in it. Well we have assumed that things will not change.But small steps are going on at backend...http://english.iihs.co.in/. I guess this is what needed instead of raising only those buildings in and around Pune.
ReplyDeleteDear Prithviraj,
ReplyDeleteThanks for sharing the link to
Indian Institute for Human Settlements (IIHS)
Hello Ravi,
ReplyDeleteI have a property related question.
Is there any indication that the real estate market in Pune will crash or atleast gets reduced to some extent?
I am looking to buy a row house, but the rates are prohibitive.Can you give some details about row houses availability?
Thanks
Milind
Row House? Where? In Pune?
ReplyDeleteYes. In pune. Not sure, if there is any more new one available.
ReplyDeleteOtherwise will have to check for resale
New are in Talegaon, Vadgaon and Wagholi!
ReplyDeleteThanks Ravi.
ReplyDeleteIs this right time to go for a purchase?
I think the prices are very high and the real estate market could be some correction in coming days.Do you expect any correction in coming months?
I think these 'awakened" & "pro-active" IT professionals would be more dangerous than the 'frightened' IT professionals of 2009 -10 who stalled the Pune real estate market and forced the builders to reduce the property prices and change the product mix!
ReplyDeleteWhat's say you?
Ravi,
ReplyDeleteCan you make a simple calculation of
1) A typical s/w professional couple can afford a EMI 70-80K for a 80-90 lakhs 3BHK flat in a decent pune area.
2) How many s/w professionals are in Pune/coming to Pune who can afford 70-80K EMI per month ?
The current price upsurge does not look sustainable with already reports of 15% vacant flats in Pune area. All statistics point to a correction. It is matter of how much Pune Builders can hold-on to manage with all the black-money they have amasses so far.
My 2 cents....
- Abhi
Hello Abhi!
ReplyDeleteI completely agree with you!
Yes, what's your guess? How many couples can afford 70 - 80 K EMI?
- However, 15% flats are not vacant in Pune real estate market. Regularly, you may have seen, i blog about availability.
Of course, if the availability is really 15%, as you say, then it's not a good news for the property buyers.
Any builder can afford to hold on to 15% stock and actually use it to hike the price!
Thanks to IT Professionals! In Pune real estate market there is very less black money. More than 95% bookings are financed by housing finance companies.
Plus, project finance - bank finance is minimum. Again, thanks to IT Professionals! No one but property buyers finance the Pune real estate market by booking at the launch stage of the project and help the builder to pay the next installment to the landlord.
Besides helping the builder to buy the land, those who book at the launch stage of the project - also assist the builder to increase the property price and make it unaffordable for their friends.
The builders in Pune real estate market don't have to worry till the property buyers are ready to sacrifice their lives for them!
Ravi,
ReplyDeleteYou are expert in this area and can make an educated guess @ the # of IT pros who can afford 70-90K EMI. 4 thousand, 5 thousand?
Even these people once they make a purchase loose their purchasing power for a 2nd flat for atleast the next ten years. I believe many flats are bought as investment flats by people having a ton of black money and just held for years. These people are not looking for ROI, but to just park their black money. They then rent these flats to IT Pros at a much lower rate than a EMI. Making the renting much much affordable than paying EMI.
Also the 15% vacancy statistics I understand is from projects which are 3-5 years old. With a Lehman like financial collapse likely again due to the Greece debt crises, pricing pressure will start on IT salaries and hence the Pune RE..
- Abhi
Can other netizens contribute ?
Dear The Karodes,
ReplyDelete1) No. I don't guess. I believe in the facts. In numbers.
2) Do you mean to say that - people with tons of black money are nothing but social workers - because they provide cheap rental housing!?
3) Why depend so much on "Fear Factor"? Why not be rational and "correct" the Pune real estate market?
I am sure. You can do that!
No the black money dudes/dundees are not philantropist, but they have the money to keep on inflating Pune RE. In their absence market forces will balance Pune RE to a meaningful price level.
ReplyDeletebtw: here comes the bust for Pune RE ... http://www.moneycontrol.com/news/cnbc-tv18comments/clsacutsindianitservicesto39underweight39_558608.html
YOU ARE THE BEST! I had a tough time persuading my parents not to buy an old 1 bedroom flat near sinhagad road for 30 lacs (asking price was 36 lacs). I told them now if the seller offers them for 30 lacs make some excuse and get out of it!
ReplyDeleteSir,
ReplyDeleteDo you see a price of 3800 to 4000 sq feet reasonable for a 2BHK flat in Wakad which is under construction.
Please advice
Balaji
Dear Sir,
ReplyDeleteAfter reading your above post....wanted a suggestion from you.
I am a IT professional working in hinjiwadi. I have taken my first flat in kasarwadi and given on rent and the second flat at wakad. Will it be beneficial holding the property in such unpredictable market condition were I am paying full EMI for second flat and few lakhs for first flat...........
Regards
K.Shukla....
Dear Kailash, are you using your second flat at Wakad as a residence?
ReplyDelete1st clear the loan of a few lakhs of the first flat!
It's difficult for me to say without looking at the flat.
However, you can calculate and decide on your own.
You know how much rental income you are earning from the 1st flat in Kasarwadi and you know how much EMI you are paying for the 2nd flat at Wakad. You can decide what would be more profitable for you!
This comment has been removed by the author.
ReplyDeleteWill pune real estate market crash??
ReplyDeleteI am willing to purchase a decent 2bhk for residential purpose pune west area(baner/aundh/wakad/sus/pashan). Current rates doesn't suit me for sure.
I wish it to crash for sure. inspite of having 5-7 lakhs in hand and any back to give me a loan , I cant buy a home in descent area in pune.
ReplyDeleteeveryting is above 55 lakhs now in Baner/sus/kothrud/nibm/Vimannagar/kharadi
*bank i meant
ReplyDeletejust couldn’t leave your website before telling you that we really enjoyed the quality information you offer to your visitors… Will be back often to check up on new posts.
ReplyDeleteReal Estate for Sale in PA
I would like to know whats the prospect of buying a 2 BHK flat in Wagholi or Hinjewadi..whuich are the upcoming projects in these areas..
ReplyDeleteWow , interesting and real , live discussion... Thank you Ravi sir very much... I think the crash is started , as ther are very very less buyers.
ReplyDeleteThis comment has been removed by the author.
ReplyDelete